The TV work, which is supported by radio, print and poster executions, centres on a spoof TV variety show based on the idea of Pop Idol.
"Showtime" features a range of terrible talent acts, including "Paper Cuts", the boy band from hell that caterwauls though its hit song Girl, Are You My Girl?
Another of the executions stars the former glamour model and singer Samantha Fox. She walks on to the studio set and says: "It's good to be back where I belong," before sitting in a Perspex box and having a bowl of eels poured over her head.
The endline reads: "Not on our channel. UKG2."
The campaign was written and art directed by Mother and directed by Sean Mullins through RSA.
Media planning and buying is through PHD.
The new channel will run alongside UK Gold, showing the edgier programmes from its stable, including I'm Alan Partridge, The Office and Have I Got News For You.
The ads will be shown across the UK TV network. They will target men and women aged between 25 and 34 who watch the major comedy and drama shows.
The print work, which also features the "Showtime" acts, will appear across a variety of weekly celebrity magazines and national press.
Radio versions will run on national stations and key regional programmes, supported by 48-sheet and cross-track poster executions on London Underground.